CNN, July 6, 2019: Kamala Harris unveils $100 billion black homeownership plan
“So we must right the wrong and — after generations of discrimination — give black families a real shot at homeownership — historically one of the most powerful drivers of wealth,” Harris said in a speech Saturday at the Essence Festival in New Orleans in what promises to be the beginning of a series of policy rollouts focusing on the black community.twitter.com
Under Harris’ proposal, homebuyers who rent or live in historically redlined communities can apply for a federal grant of up to $25,000 to assist with down payments or closing costs. Harris’ campaign estimates that this will help up to 4 million families.
Harris said black Americans have been “institutionally and historically deprived legally from having access,” to the greatest source of assets and wealth that a family can have, which is housing.